Analysis: Evotec share - takeover fantasy gone, chart technology in focus

Analysis: Evotec share - takeover fantasy gone, chart technology in focus

According to a report by www.4investors.de, Evotec shares are in a phase of volatility. After takeover fantasies briefly arose, which temporarily drove up the share price, the speculation quickly disappeared. The technical chart resistance has not yet been overcome, which confirms the assessment that the bearish trend is intact. The current share price is 14.215 euros, and support for the share is only expected in the zone between the 12 euro mark and 11.28/11.52 euros.

The uncertainty regarding the further course of the Evotec share price results from a lack of pro-cyclical impulses that could signal a trend reversal. The failure to overcome relevant resistance reinforces the assessment that the upward movement is merely a temporary consolidation in the downward trend. A stronger recovery movement could only begin if overarching resistance is sustainably exceeded. The 200-day line is currently at 18,550 euros and signals a falling trend.

The technical chart data available illustrates the challenges that the Evotec share faces. The Bollinger Bands and the EMA values ​​show a narrow trading range and continue to signal uncertainty in the market.

Overall, the Evotec share remains vulnerable to price declines due to the intact bearish trend. Only if there are sustained positive signals and significant overcoming of relevant resistance could the tide turn. It is important to continue to keep a close eye on technical chart developments in order to identify potential buying or selling opportunities.